The Dow Jones industrial average rose on Thursday morning after key economic data Meta platforms (Meta) 24% were disabled and Align technology (ALGN) 15% of revenue results were unconscious. Apple’s earnings will come out after the market closes.
Meta Announced third quarter results Earnings missed estimates late Wednesday, but beat slightly on earnings. The company reported adjusted earnings per share of $1.64 on revenue of $27.7 billion. Analysts were expecting earnings of $27.4 billion on Meta earnings of $1.90 per share, according to FactSet. Shares traded below 99, their lowest level since February 2016.
Align, the maker of Invisalign dental braces, announced late Wednesday that there were steep misses in both its revenue and earnings.
Meanwhile, US GDP, or gross domestic product, rose 2.6% in the third quarter, topping estimates of 2.3% and up from a 0.6% decline in the second quarter. Unemployment claims were also published for the first time. Claims rose to 217,000 and 214,000 in the previous week, slightly below estimates.
Stock Market Today: Caterpillar, McDonald’s, Merck Earnings
Other major earnings coming out Thursday were Dow Jones stocks caterpillar (CAT), McDonald’s (MCD) and Merck (MRK), with Ford Motor (F), MasterCard (MA), O’Reilly Automotive (ORLY), Service now (Now), Shopify (shop) and Wolfspeed (Wolf)
CAT stock rose 7%, while McDonald’s jumped nearly 3% and Merck rose 2.5% in morning trade. Ford shares fell nearly 2% as MasterCard fell 1.5%. O’Reilly shares rose about 4%, while ServiceNow shares jumped 14%. Shopify rose 13%, while WOLF stock fell 20% in early trading.
Autonomous zone (AZO), Cardinal health (CAH), Rat Lily (LLY) and Texas Roadhouse (TXRH) — as well as Dow Jones stock UnitedHealth Group (UNH) — are among the best stocks to buy and watch. Remember that a new stock market boom is the perfect time for investors to implement and update their watchlists. Pyramiding technique.
Young rallies, especially those fighting bear markets, often fail. Pyramiding provides a method of gradually moving into new stock levels to minimize risk to capital.
Dow Jones today: Treasury yields, oil prices
After Thursday’s opening bell, the Dow Jones industrial average was up 1.1%, while the S&P 500 was down 0.1%. The tech-heavy Nasdaq composite lost 1% in morning action, with Align and Meta trading at the bottom of the list.
The 10-year Treasury yield fell to 4.01% Thursday morning, adding to this week’s losses. On Monday, the 10-year Treasury yield closed at 4.23%, its highest level since June 2008 before falling in the following two sessions.
Meanwhile, US oil prices rose on Thursday, on pace to add to Wednesday’s gains. West Texas Intermediate futures traded above $88 a barrel.
Stock market rally continues
On Wednesday, the Dow Jones industrial average rose and the S&P 500 fell 0.7%. The Nasdaq composite sold off more than 2% letters (Google) and Microsoft weighed in on tech-heavy code.
Big picture on Wednesday “With a session of pronounced corporate selling on the books, growth investors can continue to buy the best breakouts. However, given the shaky action seen on many follow-up days throughout the year, it makes sense to limit the long-term. Exposure in a portfolio to 20% to 40% of the public stock market and top stocks. .”
Now is an important time to study IBD’s The Big Picture column. Following Friday’s gains, investors will want to put their curated watchlists to work in order to jump on future breakouts. But not all follow-ups work, so it’s important to raise exposure slowly and systematically as the new boom proves itself.
Dow Jones Stocks to Buy and Watch: UnitedHealth
Health care company UnitedHealth approaches the handle’s 553.23 with a trophy. Point to buy, According to IBD MarketSmith model recognition. SRabbits rose 0.55% on Wednesday, shy of the stock’s latest entry.
UNH stock was down Thursday morning.
Best stocks to buy and watch: AutoZone, Cardinal, Eli Lilly, Texas Roadhouse
Head of Auto Parts and Latest IBD stock of the day Despite Wednesday’s 0.7% decline, AutoZone is still in buy range above Cup Base’s 2,362.34 buy point. 5% Chase zone goes up to 2,480.46. AutoZone shares traded up 1.3% on Thursday.
IBD Leaderboard Stock Cardinal Health is out of buy range above the 71.22 entry from short cup with handle. IBD MarketSmith Chart analysis. Shares are above the 72.38 buy point of a flat base. Nov. Revenue is fixed at 4. CAH shares were up 0.6% in early Thursday trading.
IBD SwingTrader Shares Eli Lilly breached its buy limit above a flat base’s 335.43 buy point, up 1.9% on Wednesday. Shares rose 0.2% Thursday morning, ahead of Tuesday’s earnings report.
Texas Roadhouse moved further above the 95.52 buy point of a flat base during Wednesday’s 0.7% gain. The stock lost 1.3% ahead of the company’s earnings results late Thursday.
Tesla stock It advanced 1% on Wednesday, rising for a second straight session after Monday’s 52-week low. Despite its recent gains, the stock closed about 46% off its 52-week high.
Shares of the EV company were up 0.5% on Thursday morning.
Dow Jones Leaders: Apple, Microsoft
in the middle Dow Jones Stocks, Apple shares sold off 2% on Wednesday, snapping a three-day winning streak. Shares are running at resistance around their 50-day line, a key level to watch. Apple shares fell 2.3% after the company’s earnings late Thursday.
The consumer technology titan is expected to earn $1.27 per share on revenue of $88.7 billion.
Microsoft fell 7.7% on Wednesday after its earnings results. Shares are still near their recent 52-week lows, but have faced clear resistance at their 50-day line. The software company is about 34% off its 52-week high. Shares of Microsoft fell 1.7% Thursday morning.
Don’t forget to follow Scott Lehtonen on Twitter @IBD_SLehtonen Learn more about growth stocks and the Dow Jones Industrial Average.
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